King Salman: Saudi Arabia's goal is to stabilize and balance oil markets
The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, King of the sisterly Kingdom of Saudi Arabia, affirmed last night that the Kingdom's strategy in the global oil sector is based on supporting the "stability and balance" of the market.
In his annual speech to the Shura Council, which was published by the state news agency, the king said: "Our country is working hard, within its energy strategy, to support the stability and balance of global oil markets, describing oil as an important element in supporting the growth of the global economy."
He added, "This is reflected in its pivotal role in establishing and maintaining the OPEC Plus agreement as a result of its initiatives to accelerate the stability of markets and the sustainability of their supplies."
King Salman stressed the need to return to the voice of reason and wisdom, and to activate channels of dialogue, negotiation and peaceful solutions, to stop the fighting, protect civilians, and provide opportunities for peace, security and development for all, especially ending the Russian-Ukrainian crisis.
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